Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12681 Miller Rd Bainbridge Island, WA 98110

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $11,270 /Mo ($168 SF/Yr)

    Modern flex and office spaces available in Bainbridge Island business park.

    Property size:
    805 SF
    Lot size:
    805 SF

    Property Features for 12681 Miller Rd

    General Information

    Standard status
    Active
    Size
    805 SF

    Building Details

    Year built
    1978

    We can help!

    Listing Contact
    Jeremiah Durr
    Jeremiah Durr
    Source: Corcoran

    Listing Agency: FIRST WESTERN PROPERTIES - TACOMA, INC. Listing Agent: Jeremiah Durr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Bainbridge Island Flex/Office Space

    Miller Road Business Park, zoned for business industrial use, is located on the north end of Bainbridge Island. It features expansive spaces within a modern building suitable for office use and light assembly. Second-floor units, accessible by elevator, offer vaulted ceilings in large spaces with ample natural light. The property benefits from efficient heating and cooling systems throughout. Fiber internet access is available. The property has a secure lobby. The industrial first floor is fully leased. Available spaces include flex space and second-floor office space. The property contains 805 square feet.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Gym & Fitness Center Skin Care Clinic Department Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Frease Catering

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.545985
    Latitude
    47.67661

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      WA, Bainbridge - Ravine Ln

      Discover many ways to work your way in Greenwich
      100 Ravine Ln, Bainbridge Island, WA 98110
      View Details
    • $18 SF/Yr
      443 SF

      Waterfront Trail Access Office Space

      Office space with waterfront trail access available for rent.
      187 Parfitt Way SW, Bainbridge Island, WA 98110
      View Details
    • $30 SF/Yr
      1,702 SF

      Winslow Way Office Space For Rent

      Office space with courtyard, kitchenette, and conference room.
      200 Winslow Way W, Bainbridge Island, WA 98110
      View Details
    • $30 SF/Yr
      710 SF

      Efficient Office Suite For Lease

      Charming office suite with private offices, reception, and kitchenette.
      600 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $26 SF/Yr
      811 SF

      Bainbridge Island Office Space

      Airy office space with harbor and courtyard views for rent.
      330 Madison Ave S, Bainbridge Island, WA 98110
      View Details
    • $1,087 /Mo
      290 SF

      Remodeled Office Space on Ericksen

      Newly remodeled office space with included utilities and internet.
      750 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $25 SF/Yr
      221 SF

      Bainbridge Island Office Space

      Office space near Winslow Way and Seattle/Bainbridge ferry.
      355-385 Erickson Ave NE, Bainbridge Island, WA
      View Details
    • $27 SF/Yr
      852 SF

      Downtown Winslow Office Space Available

      Office space in downtown Winslow suitable for professional services.
      145 Finch Rd SW, Bainbridge Island, WA 98110
      View Details
    • $22 SF/Yr
      463 SF

      Bright Office Space on Winslow

      Inviting office space with natural light on Winslow Way.
      265 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $27 SF/Yr
      363 SF

      Ericksen Avenue NE Office Space

      Private office space in well-maintained medical/office building.
      727 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $18 SF/Yr
      1,271 SF

      Winslow Office Building For Rent

      Office building in Winslow with flexible configurations available for rent.
      425-435 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $24 SF/Yr
      997 SF

      Bainbridge Island Waterfront Office Space

      Functional office suite with harbor views and convenient access.
      175 SW Parfitt Way, Bainbridge Island, WA 98110
      View Details

    FAQs

    What type of property is this?
    Flex space - Modern flex and office spaces available in Bainbridge Island business park.
    Where is this flex space located?
    The property is located at 12681 Miller Rd Bainbridge Island, WA.
    What is the lease rate?
    The lease rate is $168 SF/Yr.
    What are key features of this property?
    This property features: - Modern building with expansive spaces suitable for office, light assembly, and more; - Second-floor office space available with vaulted ceilings and good natural light; - Elevator access to second-floor units
    Request Owner's contact information
    12681 Miller Rd Bainbridge Island, WA 98110
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12681 Miller Rd
    Bainbridge Island, WA 98110
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12681 Miller Rd Bainbridge Island, WA 98110
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeremiah Durr
    Jeremiah Durr
    Real Estate License ID: 49001
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!